Welcome to Councilman Mark Cuthbertson's Economics Site

Category: Huntington

The average American spends roughly $700 dollars on holiday shopping, and this translates to a national average of nearly $465 billion. This number is staggering, but it is not too surprising. The holidays make up arguably the biggest shopping period of the year, and despite a variety of special sales and discounts, the spending rarely […]

There are four main types of economic systems in the world: Traditional, command, market, and mixed. Each one of these offers its own unique set of pros and cons, sub-economies and tendencies, and plenty more. Earlier, I took a look at traditional economics, but here I’ll be discussing yet another: market economics. Market […]

In the 1970’s, 421-a was created to stimulate housing development at a time when residential construction rates were dropping in New York City. In exchange for constructing new housing, the city agreed to make owners exempt from paying the increase in property taxes that resulted from the new construction for anywhere from 10-25 years. Once […]